Contracts
A seller counters a buyer's offer by changing the closing date. This counteroffer:
AKeeps the original offer alive
BConstitutes a rejection of the original offer and a new offer by the seller✓ Correct
CAutomatically binds both parties
DMust be approved by MREC before it is valid
Explanation
A counteroffer rejects the original offer and presents a new offer. The original offer is extinguished; the buyer may now accept, reject, or counter the seller's new terms.
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